Mortgage Applications Declined 4.3% in Last Week of December
Washington, DC, January 6, 2021-Mortgage applications decreased 4.2% from two weeks earlier, according to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending January 1, 2021. The results include adjustments to account for the holidays.
The Market Composite Index, a measure of mortgage loan application volume, decreased 4.2% on a seasonally adjusted basis from two weeks earlier. On an unadjusted basis, the Index decreased 33% compared with two weeks ago. The holiday adjusted Refinance Index decreased 6% from two weeks ago. The unadjusted Refinance Index was 34% lower than two weeks ago and was 100% higher than the same week one year ago. The seasonally adjusted Purchase Index decreased 0.8% from two weeks ago. The unadjusted Purchase Index decreased 30% compared with two weeks earlier and was 3% higher than the same week one year ago.